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EXPERT ADVISE ON ARROWHEAD REAL ESTATE HOMES, PRICES & FORECASTS
published by Bob & Patsy Bailey Coldwell Banker Sky Ridge Realty
Lake Arrowhead
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Let's chat
800-987-9320.
Bob is a Broker Associate, Patsy
is a Buyer Agent CAR #01040125 & 01231486
gurubobinfo@gmail.com
grammyatthelake@gmail.com Bob
and Patsy Bailey Bio. Selling in Lake Arrowhead since
1989
Are we connected? Rotary, Education, Cities, Associations,
Church, favorite vacation .....Scroll to bottom
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MONDAY TRENDS IN
LAKE ARROWHEAD
1/23/2012,
as we we see
it.
The
first glimmer of a recovery has
begun in Lake Arrowhead. Fourth
quarter median sale price in
Arrowhead Woods was $325,000 versus
a full year median - shown below -
of $301,000. Prices are down 14% in
2011 from $350,000 in 2010. A look
at Lake Arrowhead compared to the
median price for the entire state of
California is an interesting insight
to our vacation resort.
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Avoiding extremes paid off for
Lake Arrowhead (000) |
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MEDIAN IN |
1990 |
2000 |
2004 |
2006 |
2011 |
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Lake Arrowhead |
$180 |
$228 |
$360 |
$480 |
$301 |
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vs California |
$194 |
$241 |
$450 |
$556 |
$291 |
Arrowhead Woods prices fell 37% from 2006,
the peak of the real estate bubble to 2011.
On the other hand, statewide prices fell 48%
during the same period. Arrowhead sales
dropped 65%.
The affluence to afford a vacation home,
touches the heart of buyers and sellers, the
one who does not have to buy, the other who
does not have to sell.
It tempers the
extremes that hit the state. Sure we ran up
the price and then crashed. And we accept
the premise that this is a buyer's market.
But not exactly. In a vacation home
transaction, either party can walk away from
an offer / counter offer with a simple
decision that the price is unacceptable.
There is a lot of emotion in a vacation home
sale.
It also explains why
the average sale price is 3% to 4%
under the asking price. Sellers say I quit
before I'll give it away. Buyers say, I love
the house.
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HAS IT SOLD? CAN I
SEE IT AND 2 OTHERS? ANY PRICE FLEXIBILITY? JUST
ASK US, WE HAVE EVERY HOME ON THE MOUNTAIN AT
OUR FINGERTIPS. WE SPECIALIZE IN ARROWHEAD WOODS, THE BELLWETHER OF THE
LAKE ARROWHEAD ECONOMY.
Our database has photos
of every
home, sale price, property tax, detailing rooms,
age, lot size, square footage, you name it, we
have it... Ask for a mini CMA for the true value.
NEVER buy or sell a home without a careful market
price comparison.
When you spend hundreds of thousands of dollars,
you should have the very best; Bob and Patsy
Bailey, with 22 years of Arrowhead experience,
selling nearly 1,000 homes.
Give Bob and Patsy a
call... 800-987-9320.
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December was
above average in sales, surpassing the best of the
Summer months.
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DECEMBER -- 2011 |
$100-499 |
$500-999 |
$1mil + |
TOTAL SOLD |
MEDIAN Price |
Median
2010 |
Median
2009 |
Median 2008 |
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Number Homes Sold |
30 |
6 |
1 |
37 |
$302,700 |
299 |
300 |
258 |
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PAST 12 MONTHS SOLD HOMES |
249 |
46 |
29 |
324 |
$301,350 |
$385,000 |
$386,000 |
$435,000 |
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ARROWHEAD
TRENDS, PRINT EDITION IS HERE, ON-LINE. CLICK EACH PAGE
FOR A DETAILED ANALYSIS.
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